Hello Fintech Friends,
Welcome to a (slightly slower-than-usual) week of fintech M&A!
Please find another week of fintech exits below.
💻 IPOs & SPACs
- Indonesian superapp builder GoTo Group raised about $1.1 billion in its IPO.
- Japanese crypto exchange Coincheck announced that it will list on the Nasdaq via a merger with the SPAC Thunder Bridge Capital Partners IV at a $1.25 billion valuation.
🤝 M&A - Fintech
- Apple quietly acquired UK open banking credit underwriting startup Credit Kudos for $150 million, likely to help expand its Apple Card in the country.
- Validus, a Singaporean small business lending fintech, will acquire Citibank’s Singaporean business loan portfolio.
- Crypto exchange Blockchain.com announced that it will acquire Altonomy’s over-the-counter trading desk.
- Neobank Chetwood Financial acquired its core banking provider Yobota.
🏦 M&A - Bank and FinServ
- Uruguay’s Banco Itaú will acquire 30% ownership of Uruguayan fintech companies Prex and Paigo. Prex offers digital financial services to 1 million clients across Argentina, Uruguay, and Peru, while Paigo provides financial services for the unbanked.
- The London Stock Exchange Group will sell its $1 billion BETA+ wealth assets to a consortium of private equity investors.
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🌎 Fintech Around the World
📚 Deeper Reads
Banks Can Trump Fintech as Zero-Rate Era Ends (remember high-APY accounts?)
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